သခင်ယေရှုဇာတ်လမ်း အပိုင်း - ၈
The New Year means new resolutions and new goals. If you’re looking to make some big changes in your life in 2022, one of the easiest ways to do so is by improving your money management skills. Whether you want to save more, spend smarter, or just ensure that you have the financial support and stability you need for the coming year, there are plenty of opportunities to improve your money management in 2023—and every year beyond that! Here are 10 simple ways you can manage your money more effectively in 2023.
1) Talk About It With People
It's not always easy, but one of the best ways to manage your money is by talking about it with friends and family. You can also talk with other people who have been through tough financial times. Talking about your financial goals or challenges may help you put things into perspective.
2) Chart Your Budget with Bullet Journals
One way to track your spending is by using a bullet journal. You can use this method for all types of budgets, whether you're trying to save money or spend it more efficiently. Bullet journals work best with paper and pen (or pencil). Here's how they work:
- Write out your budget at the top of a page and list each category below it. For example, if you're writing about grocery shopping, you might have groceries followed by food followed by household supplies.
- Make a column for what you want or need on that particular day
- Draw an arrow from the box at the top down to one of your categories - this shows what you are using up and needs to be replaced on that particular day
3) Include Saving In Your Income Expenses
This time of year always leaves us with a feeling of excitement and hope for what's yet to come. In order to make your goals more attainable, it's important that you take steps now. Whether it's saving more, spending less, or investing your money wisely, doing so will help you set yourself up for success in 2022.
4) Stop Comparing Yourself to Others
Comparing yourself to others can quickly lead you down a path of self-loathing. It's hard not to compare when we're constantly bombarded with social media posts that show people living their best lives. You need to remind yourself that this is often a facade. You'll never know what goes on behind closed doors, and you don't know what other people are going through because they may not share it on social media. So, stop comparing and appreciate what you have. On the other side, the grass isn't always greener.
5) Spend Less Than You Earn
To start, stop spending money that you don’t have. When you make a purchase, consider how much it will cost over time. For example, if you buy a $300 pair of shoes and wear them for five years, they will cost $60 per year. If you buy a $7 coffee every day, this habit costs $1400 per year. Consider buying less expensive things or waiting until they go on sale before buying them.
Start paying attention to your monthly credit card statements and see where your money is going.
6) Enjoy what You Have
One of the best ways to manage your money is by simply being happy with what you have. It's not always easy, but it is possible. Start by reflecting on everything you have been able to achieve so far and take time to enjoy all that you do have rather than fixate on what you don't. Remember, happiness doesn't depend on material things but rather on how much meaning and purpose we derive from our lives.
7) Change How You Think About Purchases
One of the most important ways to manage your money more effectively is by changing how you think about purchases. Instead of thinking about how much a purchase will cost you, think about how much time it will take up. When you think about things that way, they often seem less worth it. For instance, when I go into a clothes store and see a $100 pair of jeans, my first thought isn't wow that's expensive, but instead I'm wondering how many hours would I have to work on minimum wage so I could afford these. In the end, if I can't afford them because they're too expensive relative to my hourly wage then those jeans probably aren't worth it. The same goes for all other types of items like computers or vacation travel.
8) Become an Author of Your Story
It's easy to let money get out of control. It's hard to know where to start when you want to make changes. Here are some ideas for how you can manage your money more effectively in 2022 and beyond:
- Get a grip on your finances by creating a budget and sticking with it. You can use a tool like Mint or use Excel. Track all your expenses and income, even if it feels tedious at first. The payoff will be worth it!
- Be mindful of what you spend, especially on things that are impulse buys. For example, don't buy anything unless you have enough cash on hand or have already set aside funds for it - no credit cards allowed!
9) Change what you Focus on
- Change your perspective on money
- Prioritize your needs
- Save for emergencies
- Prioritize your wants
- Spend consciously and mindfully
- Use a budgeting app or spreadsheet to plan out your expenses
- Find ways to earn more money
10) Ask for Help When Needed
One of the best ways to manage your money more effectively is by asking for help when you need it. Seek out a financial advisor who can guide you through your investment decisions and offer advice on how to take care of your finances. You might also want to consider speaking with a therapist if you are facing any emotional obstacles that may be preventing you from being successful with money management. A therapist will work with you to overcome any issues that could cause financial problems, such as depression or anxiety, so they don't prevent you from living the life you want.
